Magic Minting

You can use Cargo's Magic Minting to create NFTs instantly without having to pay any gas fees.

What is Magic Minting?

Magic Minting allows creators to create NFTs without having to pay any Ethereum gas fees, or submit an Ethereum transaction. Creators can pay $1.99 with a credit card and create an NFT that will be instantly available in their Cargo dashboard. From their you will be able to transfer the NFT to a different Ethereum wallet, or immediately put the NFT for sale in the Cargo marketplace and sell it for ETH.

Securing your Magic Minted NFTs

When you Magic Mint an NFT on Cargo it is held in a secure custodial wallet that is stored offline. The Ethereum wallet address that you use to sign up on Cargo still has full control of the NFT. At any time you can eject the NFT from the custodial wallet by transferring it to the Ethereum wallet of your choice. You can also immediately add the NFT to the Cargo marketplace all without ever needing any ETH in your wallet, or paying any transaction fee. When the NFT is sold the funds will be automatically transferred to the wallet associated with your Cargo account. The original creator is noted in the NFT metadata.

How does this differ from standard minted NFTs on Cargo?

When you use Magic Minting, NFTs are held securely in a custodial wallet owned by Cargo giving you access to the NFT on the Cargo platform. For all intents and purposes you still own NFT. In order to access the Magic Minted NFT you will need to cryptographically prove that you own the wallet address that the NFT is associated with. Once proof is established (which is done by logging into the platform) the creator can transfer the NFT to another wallet, or add it to the marketplace.

Standard minting on Cargo is done all on-chain. Meaning that in order to create an NFT you must submit an Ethereum transaction. You must pay the Ethereum gas fee and you must have at least 1 Cargo Credit (an ERC-20 token) to mint. Standard minted NFTs are available in your Ethereum wallet after the Ethereum transaction succeeds. Magic Minted NFTs are available immediately after creation. Standard minted NFTs are not held in a secure, Cargo controlled custodial wallet like Magic Minted NFTs would be which means they are can be managed on other platforms that support the ERC-721 standard after the transaction succeeds. Because Magic Minted NFTs are held securely for the creator they can at first only be managed on Cargo until the creator transfers that NFT to another wallet, or that NFT is purchased by someone else in the Cargo marketplace. While Magic Minted NFTs can be viewed on other platforms the creator must first transfer the NFT to another wallet to manage that NFT on another platform that is not Cargo.